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Aug 1, 2012
08/12
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. >> steve, does the system work here? should investors feel confident about what they're seeing today, amid questions of another example of how they shouldn't trust the markets? they had human beings down there, right? they did the right thing it appears at least at this point. we don't know exactly what caused the problem and we're trying to investigate that as much as anybody else. but did the system work today or not? >> no, the system did work, because it stopped for a major panic. you saw an opportunity for some people, investing in one fund. the fund manager told me he came out and saw a stock like radio shack up 20% for no reason and just shorted it. so some people made money. as far as the normal customer, retail customer, they'll look at this and say you know, sure, it helped a little bit. it wasn't the may 6 flash crash. but i'm still pretty worried. so it doesn't instill confidence. i don't think they get to your point. as far as knight goes, we don't know what the liability was. what i heard was that instead o
. >> steve, does the system work here? should investors feel confident about what they're seeing today, amid questions of another example of how they shouldn't trust the markets? they had human beings down there, right? they did the right thing it appears at least at this point. we don't know exactly what caused the problem and we're trying to investigate that as much as anybody else. but did the system work today or not? >> no, the system did work, because it stopped for a major...
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Jun 20, 2012
06/12
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we have bob mctier, rick santelli, and steve leisman will join us shortly. what did you make of the policy statement and they're assessment of the economy right now? >> i thought the policy statement did as little as they could do without disturbing markets too much. if they dropped operation twist it would have been a tightening. so just extending that was, in a way, no change at all, and it's a very middle thing. operation twist is not a big deal because it does not affect the fed's balance sheet. >> what about the fed being more aggressive here, we know things slowed down a bit, i believe it was steve that said why not be more aggressive? was this appropriate just extending operation twist? is it enough? >> i have thought he did leave the door open to do more. he laid out that if inflation was lower and an unemployment is higher, both currently and in their projections, and geoffen the dual mandate, steve is right, that really calls for more. we don't want them to shoo their last arrow before they have to. >> right, i think that's the sense that we got to
we have bob mctier, rick santelli, and steve leisman will join us shortly. what did you make of the policy statement and they're assessment of the economy right now? >> i thought the policy statement did as little as they could do without disturbing markets too much. if they dropped operation twist it would have been a tightening. so just extending that was, in a way, no change at all, and it's a very middle thing. operation twist is not a big deal because it does not affect the fed's...
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Mar 13, 2012
03/12
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let's get to steve liesman. over to you, steve. >> quickly, we'll get to this, but four banks appear not to have passed the stress test. it would total about half a trillion dollars over the nine quarters. the 19 companies that see a decline of their capital ratios to 6.3% in the fourth quarter of 2013, from 10.1% under the stress scenario. four of the 19 holding companies failed the stress test, in one or more capital ratio, according to the release. as maria said it included a 13% unemployment rate, a 50% decline in stock and 21% fall in housing prices. sun trust, citigroup and allied would have a capital, minimal capital level below 0% after the stress test. i don't know who the fourth one is. i haven't had a chance to figure that out from looking at these documents. bank of new york, melon and amex would have the highest ratios. citigroup just barely missed. they were at 4.9%. and jpmorgan -- morgan stanley was at 5.4%. most were between 5% and 6%. i believe if you slipped under, that means you didn't necess
let's get to steve liesman. over to you, steve. >> quickly, we'll get to this, but four banks appear not to have passed the stress test. it would total about half a trillion dollars over the nine quarters. the 19 companies that see a decline of their capital ratios to 6.3% in the fourth quarter of 2013, from 10.1% under the stress scenario. four of the 19 holding companies failed the stress test, in one or more capital ratio, according to the release. as maria said it included a 13%...
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Jul 19, 2012
07/12
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steve, i feel like every time we hear from the federal reserve it's on all on the fed. why are we not hearing more on what the fiscal policy side. >> there was discussion from rob rubin that maybe the fed is bailing out the political side as well. >> hank didn't want to talk about monetary policy. >> that's why i didn't ask you, but i knew you would say that. >> here is what i said, you have to just look at the facts and this is happening to central banks everywhere. the problems are fiscal problems in europe and the u.s., and they are competitiveness problems. it's not just cutting. it's how do we have real reform and policies that let us grow and create jobs and have rising income? the fed can't deal with that. but the fed is left with few choices. they're the only institutions that can act. so i don't find fault with what they're doing. i don't go to sleep at night worrying about inflation. and he is protecting the downside. >> i don't find fault in what he's doing, he's the only one doing anything. >> he is the only one doing anything, but what we need -- we need to
steve, i feel like every time we hear from the federal reserve it's on all on the fed. why are we not hearing more on what the fiscal policy side. >> there was discussion from rob rubin that maybe the fed is bailing out the political side as well. >> hank didn't want to talk about monetary policy. >> that's why i didn't ask you, but i knew you would say that. >> here is what i said, you have to just look at the facts and this is happening to central banks everywhere. the...
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Mar 13, 2012
03/12
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thank you, steve. joining us right now with his response to this latest bit of news that's causing this rally at this hour, john is with morning star. jim, are you as encouraged as the market seems to be right now? this market feels like it's starting a new leg here upward. do you agree? >> you know, i don't know if i would say i'm that encouraged. the market is known for jpmorgan as one of the better managed banks. i don't know that it was a surprise they were given authorization for a dividend increase, and a pretty large share repurchase. i think a lot of the u.s. banks are in good shape as far as capital. it will be interesting to see the more troubled banks, citigroup and bank of america, what the results are for those two banks, and how they managed to pitch it. >> i don't want to put words in your mouth, you sound a little skeptical about this rally. are you saying you want to take profits on this rally, or what are you doing here? >> when we look at the bank stocks, they've been on a pretty goo
thank you, steve. joining us right now with his response to this latest bit of news that's causing this rally at this hour, john is with morning star. jim, are you as encouraged as the market seems to be right now? this market feels like it's starting a new leg here upward. do you agree? >> you know, i don't know if i would say i'm that encouraged. the market is known for jpmorgan as one of the better managed banks. i don't know that it was a surprise they were given authorization for a...
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Aug 3, 2012
08/12
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yes, we have stephanie link joining us, steve least man, and rick santelli, who is crediting this rally on the president's economic policy, is that right? >> that's what it says here. >> wait here -- >> i said i'm just glad you're a thousand miles from us when we read that. >> the greatest private economy on the planet despite bad policy and with a lot of liquidity in the world. i think when you bring the president into is i think companies responsible for the dow, the president is responsible for the fact that we have 1.5% gdp, it's up to you to reconcile those two. >> steve leisman, i guess the fed glad is didn't do anything on wednesday. at best it would see alarmist and if worst they would seem like idiots. >> i don't know about that. i idiots might be a strong word and i don't use strong words, bill. i think it's still an open question. my best call is these are not numbers that should push the fed toward quantitative easing. people may think of it too lightly. it's a major step for a federal reserve or central bank to do it. the evidence should be overwhelming. you have had a slow
yes, we have stephanie link joining us, steve least man, and rick santelli, who is crediting this rally on the president's economic policy, is that right? >> that's what it says here. >> wait here -- >> i said i'm just glad you're a thousand miles from us when we read that. >> the greatest private economy on the planet despite bad policy and with a lot of liquidity in the world. i think when you bring the president into is i think companies responsible for the dow, the...
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Mar 9, 2012
03/12
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we're joined by kelly evans, and steve liesman. good to see you both. so we did get the jobs numbers that were better than expected, kelly. what about the income and the paychecks? >> i want to point out as we're seeing increases in job gains over the last couple of months, income growth has been lagging. we're talking increases in hourlily earnings. we can see it in terms of growth and spending. >> steve, what do you think? what are you expecting this to translate into in the coming months? >> i look at it as a somewhat broader measure. i disagree with kelly a little bit. if i look at personal income, i look at the wage-to-salary component. growth to 4% year-on-year. we have about as good an income as we had back in the 2006 and '07 period. i'm not that worried about it. i think incomes are growing smartly here. >> we're looking at a real reaction in the market because of the news on greece. we actually saw stocks back up after the news. >> i have a number here, maria, that i'm trying to run down. i believe this covers only $3 billion of default and so
we're joined by kelly evans, and steve liesman. good to see you both. so we did get the jobs numbers that were better than expected, kelly. what about the income and the paychecks? >> i want to point out as we're seeing increases in job gains over the last couple of months, income growth has been lagging. we're talking increases in hourlily earnings. we can see it in terms of growth and spending. >> steve, what do you think? what are you expecting this to translate into in the...
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Mar 13, 2012
03/12
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in our lifetime, steve? >> you want to be on the right side of that trade when it happens. >> bottom-line it. bill, you go first. how do we make money? >> mandy, you basically protect against inflation from the standpoint of bonds, that means t.i.p.s. and you get as close as you can to that 2014 period of time to which the fed has conditionally promised they will maintain the fed funds level at 25 basis points. four, five, six-year securities. corporates that can benefit from that 2% to 3% economic growth. stay close to home in terms of 2014 and avoid that longer-term sector that is inflation sensitive. >> what about you, david? >> i would agree with avoiding the long end of the fixed income market. but i think the key thing is look at your asset allocation. this isn't a question of which bonds to buy. do you have enough exposure in risk assets and equities? overweight equities, underweight fixed income. we've seen a very good rally in the stock market. so being overweight equities relative to fixed income h
in our lifetime, steve? >> you want to be on the right side of that trade when it happens. >> bottom-line it. bill, you go first. how do we make money? >> mandy, you basically protect against inflation from the standpoint of bonds, that means t.i.p.s. and you get as close as you can to that 2014 period of time to which the fed has conditionally promised they will maintain the fed funds level at 25 basis points. four, five, six-year securities. corporates that can benefit from...
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Mar 23, 2012
03/12
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so i'm with steve. rarely as it is, that i'd like to have a body there that helps navigate the trades rather than rely on electronics. >> we have a whole round table of traders today on the show as we normally do. joe is back at our global headquarters. joe, as you listen to this conversation, and you look at the landscape of what's happened today, what are your thoughts? >> listen, traders, we're a quirky bunch. to add some levity, you know, when you see a print go up like 542 in apple traders tell you you get the print up, that's where the market is going. i don't know whether the black cat just walked in front of apple or maybe a bat just walked in front of apple but as a trader that is the levity. you think tourp, hum. maybe this is what actually cracks the apple story. >> joe, do you think cortez covered his short on that print? >> not touching that one. >> bob, i know you've been one the few people over the last several minutes to be directly in touch with bats. i'm sure they may have more to say
so i'm with steve. rarely as it is, that i'd like to have a body there that helps navigate the trades rather than rely on electronics. >> we have a whole round table of traders today on the show as we normally do. joe is back at our global headquarters. joe, as you listen to this conversation, and you look at the landscape of what's happened today, what are your thoughts? >> listen, traders, we're a quirky bunch. to add some levity, you know, when you see a print go up like 542 in...
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Sep 6, 2012
09/12
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>> we have steve leisman, rick santel santelli, jeff cox with us. we heard a lot of talk about qe 3 coming, but if we get a very good payroll number tomorrow, does that actually hurt the market because that means we will not get stimulus from the fed? >> i just want to warn you that you're asking me this question when i'm in mid-thought, and nothing may be more -- >> shall we let you finish your thought? >> no, let me give you whau it is right now. keep the camera on rick here. i think even despite a strong jobs report the federal reserve may act next week. i don't think there is much in the way of this number that will keep the fed from doing some form of additional easing. i think they are too far behind the eight-ball that any single report would meet their standard of sustainable and substantial change. if you have a tick down in the unemployment rate at 200,000 jobs, like suggested, i think the fed still goes ahead next week. >> what do you think, rick? >> to me, i would not even weigh in on it. in my opinion whether they do it or don't, there'
>> we have steve leisman, rick santel santelli, jeff cox with us. we heard a lot of talk about qe 3 coming, but if we get a very good payroll number tomorrow, does that actually hurt the market because that means we will not get stimulus from the fed? >> i just want to warn you that you're asking me this question when i'm in mid-thought, and nothing may be more -- >> shall we let you finish your thought? >> no, let me give you whau it is right now. keep the camera on...
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Jun 14, 2012
06/12
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they're in recessionary mode. >> steve leisman, what more have you learned, steve? >> i contacted the ecb, they're telling me no comment on this. it has been pointed out to me thoo the european bank is separate from the g 20. i just want to underscore the idea that it would be very strange for a g 20 official to speak for central banks. but it's not impossible, and if there are disruptions in the market that result from the greek elections, that the central banks would step forward. that's difference from the central bank stepping forward for quantitative easing. >> remember the political situation, the g 20 is meeting in mexico. they don't want to be caught flat footed. they're all sitting there saying we better look like we think we have policy going here and it's very easy to see -- >> you have to look like you have a contingency plan. >> you can see how you can write this story very easy. i want to ask you quickly, if we got a coordinated intervention my central banks of major economies. you have it in asia, china, india in particular. so would this reverse anyt
they're in recessionary mode. >> steve leisman, what more have you learned, steve? >> i contacted the ecb, they're telling me no comment on this. it has been pointed out to me thoo the european bank is separate from the g 20. i just want to underscore the idea that it would be very strange for a g 20 official to speak for central banks. but it's not impossible, and if there are disruptions in the market that result from the greek elections, that the central banks would step forward....
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Feb 7, 2012
02/12
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we have senior economic supporter steve liesman with us. steve, we heard a lot of the same, interest rates going to stay at exceptionally low levels until the end of 2014. what struck you about bernanke today? >> mostly i thought his comments on europe were newsworthy. i would suggest it was a lot of the same. it was so much the same, that he repeated the testimony from last week's appearance before the house budget committee, even including a jobs number out before the revision which happened the day after the testimony. so he was specifically not making any news on the economy today. he did say about europe that the ecb said some countries already in a recession. he did suggest that u.s. banhav limited their exposure. if there's a european financial problem, it will wash up on these shores. on the economy, he was mostly asked about the budget. repeated dire warnings from last week. but did say the 8.3% unemployment rate does hide additional slack in the labor market from discouraged workers, and those working part-time for economic reason
we have senior economic supporter steve liesman with us. steve, we heard a lot of the same, interest rates going to stay at exceptionally low levels until the end of 2014. what struck you about bernanke today? >> mostly i thought his comments on europe were newsworthy. i would suggest it was a lot of the same. it was so much the same, that he repeated the testimony from last week's appearance before the house budget committee, even including a jobs number out before the revision which...
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Dec 7, 2012
12/12
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>>> plus, former aol ceo steve case joins us. he'll outline his big plans to get america back to work and how to keep america great when it comes to innovation. all ahead on "power lunch." tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned d
>>> plus, former aol ceo steve case joins us. he'll outline his big plans to get america back to work and how to keep america great when it comes to innovation. all ahead on "power lunch." tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down...
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Mar 27, 2012
03/12
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you heard what steve just reported on ben bernanke. worried about oil prices actually taking a hit on growth. how worried are you? >> you always have to watch oil. i mean i think it's important to remember that both in 2010 and 2011 we started the year out very strong only to see it fall back. and i'm talking about the economy and the markets. one of the major reasons in both cases with the spike in oil prices. there's very little spare capacity. in fact, one of our recommendations is oil-related stocks as a good way to hedge yourself here. >> david, have you changed any of your, you know, in vestments, allocated capital differently as a result of what's been going on with oil? are you surprised to hear bernanke talk about the possibility of a hit on growth as rault of gas and oil? >> no. quite frankly, no. it's -- oil is one of the two or three hardest variables to predict. longer term, i think, the price move is probably a little lower. you mentioned the highest in the index, maria, they're up 40% from their october 3rd lows, however
you heard what steve just reported on ben bernanke. worried about oil prices actually taking a hit on growth. how worried are you? >> you always have to watch oil. i mean i think it's important to remember that both in 2010 and 2011 we started the year out very strong only to see it fall back. and i'm talking about the economy and the markets. one of the major reasons in both cases with the spike in oil prices. there's very little spare capacity. in fact, one of our recommendations is...
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Nov 1, 2012
11/12
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we have rick santelli and steve liesman joining us. steve, it comes after a day of pretty decent economic data we got. >> yeah, it's certainly a better way to go into what the uncertain effects of hurricane sandy are going to be. to have the economy stabilized on a slight upswing from what weren't great numbers. the consumer hanging in there with the biggest problem being business spending. i think ultimately what we're going to see tomorrow are numbers that are in line, 125 to 150. i don't get too hung up in 10,000 here, 10,000 there. show me 250 and i'll be really excited. show me that 70 or 50,000, and i'll start getting concerned. >> rick, is that priced into the market? what kind of reaction will we get? >> i think it is priced in. i'm not sure we get a big market move on that. i congratulate the bureau of labor statistics. i'm sure there was pressure potentially to delay the number. many are glad they didn't. i think over the last couple days steve and i have raised issues that this is going to be an important number for a number
we have rick santelli and steve liesman joining us. steve, it comes after a day of pretty decent economic data we got. >> yeah, it's certainly a better way to go into what the uncertain effects of hurricane sandy are going to be. to have the economy stabilized on a slight upswing from what weren't great numbers. the consumer hanging in there with the biggest problem being business spending. i think ultimately what we're going to see tomorrow are numbers that are in line, 125 to 150. i...
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Oct 31, 2012
10/12
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steve if you don't live in the northeast how does the storm impact you? >> there are many ways that happens, maria. air travel is one way but i think ultimately it's going to have an effect on the nation. they're just trying to figure that out right now. some of the estimates between $30 billion and $50 billion in total losses, some that comes from lost business economic activity, other parts of it come from the total property losses that are out there. i will tell you, maria, some of the estimates i'm using were done earlier yesterday, kind of backing the nfl to the extent the damage has become known. i think the estimates are going to go up and i think another big issue to think about is the uninsured losses, those that are for example caused by storm surge which either the government has to pick up or have to pay out of their own pockets. >> mike, it's been a difficult month especially on the earnings front, the third quarter numbers keep coming out. what is next for you and the corporation and the broader economy, do you think in. >> i think it could
steve if you don't live in the northeast how does the storm impact you? >> there are many ways that happens, maria. air travel is one way but i think ultimately it's going to have an effect on the nation. they're just trying to figure that out right now. some of the estimates between $30 billion and $50 billion in total losses, some that comes from lost business economic activity, other parts of it come from the total property losses that are out there. i will tell you, maria, some of the...
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Jun 20, 2012
06/12
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and steve liesman with the fed an outlook awaiting ben bernanke. steve? >> thanks very much, brian. the members lowering the outlook for growth and inflation and raising the unemployment outlook for this year and indeed the next three years. six fmoc members reducing the forecast for the average funds rate of 2014 to 1.1% principally because six members see the first rate hike in 2015. up from april and looks like the addition of the two fmoc board members made the board a little bit more dovish here. here's the outlook. see they shave half a point off growth for this year. they shave a .4 off the growth outlook for 2014 and above trend growth for 2014. unemployment rate outlook, 12.4% for the fed and that is a probably aggressive given that we are now still above that. we would have to end up below that for the remainder 06 this year. you can see for all two subsequent years after this year, fed looking now for higher unemployment. the inflation forecast, this is top line inflation, not the core eninflation rate. this includes food and energy and you can see there they shaved about
and steve liesman with the fed an outlook awaiting ben bernanke. steve? >> thanks very much, brian. the members lowering the outlook for growth and inflation and raising the unemployment outlook for this year and indeed the next three years. six fmoc members reducing the forecast for the average funds rate of 2014 to 1.1% principally because six members see the first rate hike in 2015. up from april and looks like the addition of the two fmoc board members made the board a little bit more...
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Feb 24, 2012
02/12
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geithner, steve, indicated there's a silver lining in there. but my question to you is, fact or political spin? >> well, i think it's a bit of both, tyler. secretary geithner seemed less concerned about europe these days saying the financial crisis is less likely to derail the u.s. recovery. but he's more concerned about higher oil prices and especially the impact of global tensions around iran and its nuclear program. >> you're seeing two things work to push prices higher. the first is that growth is gradually getting stronger. not just in the united states but around the world. at least outside of europe. that's making people more confident in the expansion. and that's helping push the prices higher. but also, you know, iran is doing some saber rattling and causing uncertainty in that context. >> geithner said "iran can do a lot of damage to the u.s. economy, but achieve little success in getting other countries to support the sanctions." adding that the obama administration could consider using the strategic petroleum reserve to combat highe
geithner, steve, indicated there's a silver lining in there. but my question to you is, fact or political spin? >> well, i think it's a bit of both, tyler. secretary geithner seemed less concerned about europe these days saying the financial crisis is less likely to derail the u.s. recovery. but he's more concerned about higher oil prices and especially the impact of global tensions around iran and its nuclear program. >> you're seeing two things work to push prices higher. the...
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Nov 19, 2012
11/12
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. >>> and then the man who many in the technology world call the next steve jobs. you're probably already using something this quiet genius already invented. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. corporate america had a strong message for president obama this week. ceos from more than a dozen of america's largest companies met with the president and warned that washington must reach a deal to avoid the fiscal cliff. the president also sat down with congressional leaders and officially began negotiations. if congress doesn't act, taxes on income, capital gains, dividends and estates will all go up. and automatic spending cuts will kick in, beginning on january 1st. this week, i spoke with alan simpson and erskine bowles, authors of a deficit reduction plan about what needs to be done. >> you can't tax your way out of this. you can't cut spending your way out of this
. >>> and then the man who many in the technology world call the next steve jobs. you're probably already using something this quiet genius already invented. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. corporate america had a strong message for president obama...
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Aug 31, 2012
08/12
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. >> steve. jon? >> well, i think clearly when people heard ben and actually were able to read his words, which is what most of us did, of course, rather than hear him, it was a big reaction. it was a big reaction as far as the sell off in the market and then a v-shaped bottom in particular out of the likes of gold, the gld, frior instance, u sell it selling off and eight minutes, nine minutes later it turns and burns to the upside. we're at the highest levels since april 12th, we broke through 163 to the upside on the gld contract and the volume was extreme. they just came in flooding in with big blocs of stock and options in the s&p 500, in the gld, and in crude oil. >> we have two of you on the set. >> you're right. >> have you got the fire department standing by? >> way too much handsome on the show today. way too much handsome. >> and two guys that went high school with prince, you were playing with "when doves fly." minneapolis central. >> let's get to steve liesman standing by in beautiful jack
. >> steve. jon? >> well, i think clearly when people heard ben and actually were able to read his words, which is what most of us did, of course, rather than hear him, it was a big reaction. it was a big reaction as far as the sell off in the market and then a v-shaped bottom in particular out of the likes of gold, the gld, frior instance, u sell it selling off and eight minutes, nine minutes later it turns and burns to the upside. we're at the highest levels since april 12th, we...
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May 2, 2012
05/12
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steve and rob, welcome to the show. rob, i'm going to you first to all. the market is around four-year highs. if you have not participated in this six-month rally, is it too late to get in? >> i don't think so, mandy. if you look at the p/e ratio for the s&p 500, it's only 14 times earnings. i find that very cheap compared to the historic average of 15.5 times earnings. so i think we're certainly not in the early stages, but it's not too late to get in. >> steve, do you agree that the market is still cheap? and if it is, what would you buy? >> i think it's cheap, mandy. near-term we have a little bit of a pullback here. i think friday may be weak with the jobs number. we think we're in a new secular bull market for equities. we think over the next couple years you could be seeing 1650 on the market. we have a target of 1450 for the end of the year. in this pullback here so often we certainly would be buying cyclicals, materials mentioned earlier on the show getting hit hard. industrials, those areas have lagged this year and those are areas we particularl
steve and rob, welcome to the show. rob, i'm going to you first to all. the market is around four-year highs. if you have not participated in this six-month rally, is it too late to get in? >> i don't think so, mandy. if you look at the p/e ratio for the s&p 500, it's only 14 times earnings. i find that very cheap compared to the historic average of 15.5 times earnings. so i think we're certainly not in the early stages, but it's not too late to get in. >> steve, do you agree...
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Apr 27, 2012
04/12
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steve weiss joins us now. the 2% -- it's like reduced fat milk, steve. >> it is. it is. >> how do i make money? >> well, you have to go with the winners. that's the first thing. you have to go where value is. when you look at coke versus pepsi, use that as an example. coke had a great quarter. selling about 20 times earnings. pepsi not so great at 16. that's down. coke is hitting another new high. so you go with your winners with solid brand names. stay at the high end of retail also. that's nordstrom and macy's, a great operator. stay away from the low end. >> stay away and go with consumer names that people -- whose products people want to buy? >> yes. but be careful. in a week from today you have a jobs number. that could take down the consumer stocks and give you another opportunity. >> are there any areas that leap out to you in this 2% economy that have been basically undiscovered that are sleepers to you? >> you know, it's such an amazing market. there are no sleepers. either they're killed in their sleep because they take -- >> stay asleep. >> stay asleep
steve weiss joins us now. the 2% -- it's like reduced fat milk, steve. >> it is. it is. >> how do i make money? >> well, you have to go with the winners. that's the first thing. you have to go where value is. when you look at coke versus pepsi, use that as an example. coke had a great quarter. selling about 20 times earnings. pepsi not so great at 16. that's down. coke is hitting another new high. so you go with your winners with solid brand names. stay at the high end of...
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Dec 12, 2012
12/12
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i think steve has it exactly right, though. the expansion to $1 trillion annually a year in terms of check writing is significantly potent in terms of potential inflation. it it just depends upon the private sector taking the bait and providing animal spirits to that fire power. >> i don't know if you saw at the top of the show, our crack team made a demonstration of ben bernanke pulling the economy over the cliff. if we go over, automatic tax cuts, automatic spending hikes on everybody, we must add, does ben bernanke and the merry band of fed governors have the strength and the ability and the fire power to pull us back? >> they've already admitted that, if we were to go over the fiscal cliff, there's little that the fed can do in terms of tools to create the kind of a scenario that we would like to see. so fortunately, the arguments for getting a deal done outweigh the arguments for not doing one before the 112th congress closes. >> you don't think, charles, they can not just shower the people with love, but shower them with
i think steve has it exactly right, though. the expansion to $1 trillion annually a year in terms of check writing is significantly potent in terms of potential inflation. it it just depends upon the private sector taking the bait and providing animal spirits to that fire power. >> i don't know if you saw at the top of the show, our crack team made a demonstration of ben bernanke pulling the economy over the cliff. if we go over, automatic tax cuts, automatic spending hikes on everybody,...
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Feb 23, 2012
02/12
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it is the first since the passing of steve jobs. before we do that though, bill, what is ahead on "closing bell"? >> we have plenty of ceos coming your way on "closing bell." a trio of them as a matter of fact. we'll talk with the ceo of aig just moments after the results are of the hour 4:00 eastern. plus, we'll get the outlook for consumer spending when we speak with the heads of clorox and darden restaurants. they, of course, own olive garden and red lobster gardens. brian and the gang and "street signs" are back right after signs" are back right after this. >>> do check out shares of apple. again marching toward an all-time high. $514.98. call me when it gets to $517. over the $500 a share mark. the run in apple just keeps going. i mean, apple is not just a company anymore. it is a way of life. it is a thing unto itself and it has created what we're calling the iconomy. jon, what are the hot topics? >> well, no new news on a dividend. though it did come up. tim cook all but ruled out a stock split. there were lots of questions a
it is the first since the passing of steve jobs. before we do that though, bill, what is ahead on "closing bell"? >> we have plenty of ceos coming your way on "closing bell." a trio of them as a matter of fact. we'll talk with the ceo of aig just moments after the results are of the hour 4:00 eastern. plus, we'll get the outlook for consumer spending when we speak with the heads of clorox and darden restaurants. they, of course, own olive garden and red lobster...
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Mar 28, 2012
03/12
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steve liesman is here with the incredible results. steve. >> yeah. mandy, i think incredible is a good word for it. we asked americans putting together a survey for what if we just asked them, how many apple products do you own? i think it exceeded our expectations what these numbers were. 49% of the public does not own an apple product. 51% actually do own one. maybe it's not working today. 51% own at least one. and look here what they do own. what you find is that 28% own one to two. and then 13% own three to four. and 9%, down here, own at least five or more. one, however, is not enough. get rid of that one right there. and then what you find is that 1.6 is the average of apple devices owned by all households. but how about among those who own at least one? the average is it is going to be three. and then come over here. i want to show you on the other s set of charts we have available here. apple ownership exactly what you would think when you go up in income groups, 28% earning less than $30,000 own one, 42%, 57% of those who earn over $100,000
steve liesman is here with the incredible results. steve. >> yeah. mandy, i think incredible is a good word for it. we asked americans putting together a survey for what if we just asked them, how many apple products do you own? i think it exceeded our expectations what these numbers were. 49% of the public does not own an apple product. 51% actually do own one. maybe it's not working today. 51% own at least one. and look here what they do own. what you find is that 28% own one to two....
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Aug 14, 2012
08/12
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we have steve with us now, and bob pisani is going to join us. aaron gibbs is coming along. you think there is a bubble of cash. explain the fair you that owe see happening. >> i think a lot of investors are looking to identify bubbles, and we think we identified one. catch and corporate balance sheets have grown. it's a 50% increase liveen by unsurgeon tily corporations. they have cut that cap back. >> so we have been talking about this for so long, so much cash on the balance sheet, nobody is doing anything with it, you're not the first person, when? >> we have retail sales today were good, the employment numbers are stabilizing, housing is improving, we saw home depot today. i think rates are down also for the last couple years. so if you have catch on your false sheet. i think the catalyst will be a spending fire that occurs as you see a pick up, share buy backs, you're starting to see that now -- >> but why now? >> because investor sentiment, markets up 12% year to date. after of the return has been the last month. i think corporate finance departments are getting nervo
we have steve with us now, and bob pisani is going to join us. aaron gibbs is coming along. you think there is a bubble of cash. explain the fair you that owe see happening. >> i think a lot of investors are looking to identify bubbles, and we think we identified one. catch and corporate balance sheets have grown. it's a 50% increase liveen by unsurgeon tily corporations. they have cut that cap back. >> so we have been talking about this for so long, so much cash on the balance...
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Dec 5, 2012
12/12
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back to you, maria. >> steve, thank you so much. steve liesman with the secretary of treasury. let's get reaction to that exclusive interview. that's coming up after that short break. on deck, senator jeff sessions is with me, a ranking member of the senate budget committee. richard shelby is also with me. and maya mcguinness. this busy edition "the closing bell" is just getting started. we're back in a minute. they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> welcome back. you just heard from timothy geithner. did the exclusive interview you just saw move the needle in terms of the fiscal cliff being any clo
back to you, maria. >> steve, thank you so much. steve liesman with the secretary of treasury. let's get reaction to that exclusive interview. that's coming up after that short break. on deck, senator jeff sessions is with me, a ranking member of the senate budget committee. richard shelby is also with me. and maya mcguinness. this busy edition "the closing bell" is just getting started. we're back in a minute. they've been committed to putting clients first. helping generations...
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Oct 26, 2012
10/12
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steve is still with us. we've just had discussion that the fed is likely to keep the taps open or may even put more in towards the end of the year. but does that have much impact on the dollar? >> no, i don't think so. i think the way in which quantitative easing affects currencies if at all is if it adjusts real interest rates. nominal interest rates and inflation. in theory at least quantitative easing is negative as far as those real rates are concerned because nominal rates can come down and inflation expectations can go up. but if you look at the u.s., we've had obviously this is the third bout now. rates are already very low. inflation expectations are calm. so not really a great deal of room for real interest rates to fall much further and i don't think there's much room necessarily for the dollar to fall as a consequence of the easing taking place now or indeed if the fed starts some outright treasury purchases next year. >> what about with emerging market currencies. every time we get more qe, they
steve is still with us. we've just had discussion that the fed is likely to keep the taps open or may even put more in towards the end of the year. but does that have much impact on the dollar? >> no, i don't think so. i think the way in which quantitative easing affects currencies if at all is if it adjusts real interest rates. nominal interest rates and inflation. in theory at least quantitative easing is negative as far as those real rates are concerned because nominal rates can come...
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Oct 17, 2012
10/12
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now steve just mentioned the seasonality of the data. it is a good seasonality for president obama because we're in leak season right now. and the fact that you see more and more americans saying the country's on the right track, few are saying we're heading in the wrong direction, more economic confidence, that's all putting a floor under the president. >> final thoughts, steve. >> it's very important when president obama says those jobs are not coming back, it is true. some jobs are never coming back. that's the way the economy changes. what he might have been hinting out and what the broader discussion is at the federal reserve and i think from policymakers in general is, are we going to have to live with a higher unemployment rate? that is the question. i don't think economists are ready to say yes. >> used to be 4% was full employment. are we now talking -- >> 6%, 7%. it is a critical question. i don't think we are ready to make a decision on it yet but we're having this debate right now. is it structural, or is it cyclical? can we
now steve just mentioned the seasonality of the data. it is a good seasonality for president obama because we're in leak season right now. and the fact that you see more and more americans saying the country's on the right track, few are saying we're heading in the wrong direction, more economic confidence, that's all putting a floor under the president. >> final thoughts, steve. >> it's very important when president obama says those jobs are not coming back, it is true. some jobs...
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Feb 18, 2012
02/12
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anything to finish up with, steve? >> my point, i think markets of generally correct and forward looking. the united states was by far the strongest equity market. china down 20% raft last year. the united states flat. outperformed germany four year. markets are intelligent in this regard and projecting protectly forward, innovation of growth comes from here, not europe certainly not china. >> god bless america. >> yeah. >> exactly. exceptionalism. brian kelly and really sar torely slend ed -- you get the in other words. you have w cuff links? reagan cuff links? i don't think you do. >> i have cuff links. >> not reagan? >> i've got card yier cuff link >> i'm the nerd with no cuff links. >>> coming up, president obama out on the campaign trail today pledging enhanced financing for u.s. exporters. is the president just stoking these trade tensions jand don't forget larry's motto, such a great motto. free market capitalism is the best, really, the only path to sustained prosperity. "the kudlow report" coming right back. [
anything to finish up with, steve? >> my point, i think markets of generally correct and forward looking. the united states was by far the strongest equity market. china down 20% raft last year. the united states flat. outperformed germany four year. markets are intelligent in this regard and projecting protectly forward, innovation of growth comes from here, not europe certainly not china. >> god bless america. >> yeah. >> exactly. exceptionalism. brian kelly and really...
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May 4, 2012
05/12
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jeff kilburg is here with us and here onset with me is steve grasso. steve, start with you. your feelings about today. i just looked up and it looks like the upside volume is gaining a little bit of strength but still a lot of pressure on the market. >> you nailed it before. is it about the economy? is it about earnings? is it about europe? it's a combination of everything, right. so earnings obviously took center stage. now we have a bunch of elections going on in the european zone this weekend. why step in front of the train right now? we broke down a little technically. we talked about it yesterday the 50-day moving average, 1386. we broke through that. so at this point i think traders want to see where we level off. for the moment we've stabilized right around the 1370 level. another big level. but below this it gets a little interesting. 30 points lower is the next real stability. >> interesting. >> in the s&p cash, that's a big move there. >> it is a big move. jeff kilburg, i always cringe when i hear the words it's going to get a little interesting. you've given us so
jeff kilburg is here with us and here onset with me is steve grasso. steve, start with you. your feelings about today. i just looked up and it looks like the upside volume is gaining a little bit of strength but still a lot of pressure on the market. >> you nailed it before. is it about the economy? is it about earnings? is it about europe? it's a combination of everything, right. so earnings obviously took center stage. now we have a bunch of elections going on in the european zone this...
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Oct 2, 2012
10/12
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steve bomber before bill games was viewed as a suit. steve jobs was viewed as bono. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaac son's by of fee of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. go google has the momentum you could have on your cell phone and that is why the stock is going higher. the gee fault go to tech name is google. it is the financial equivalent over who is cool. google is and microsoft isn't. which is why google up here is the one to own. stay with cramer. in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [
steve bomber before bill games was viewed as a suit. steve jobs was viewed as bono. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaac son's by of fee of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. go google has the momentum you could have on your cell phone and that is why the stock is going higher. the...
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Sep 7, 2012
09/12
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you're right, we got to go. >> thanks, guys, nice chart by the way, steve. kudos to the graphics department. >> i know your real answer,ly not make you say it on the air. we'll see if this market can mount a comeback of some kind as we head toward the close right now. >> stick around, we're just getting starting on this big friday edition of the "closing bell." >>> coming up, in a fix, is the employment picture so break it may not matter who is in the oval office come january? and gun play, some weapon manufacturers are up as much as 250%. we'll tell you who they are and how to arm your portfolio. also, there is something about maria, she's on the ground in italy with the very latest news on what the world's leaders are saying about the state of the global economy. >>> welcome back, about 50 minutes left in the trading session. time for a quick market academic. if you're just checking in, the market is not doing much. this morning's disappointed job numbers throwing the rally into neutral. if you're a bull, you would say we have not had a big sell off. but t
you're right, we got to go. >> thanks, guys, nice chart by the way, steve. kudos to the graphics department. >> i know your real answer,ly not make you say it on the air. we'll see if this market can mount a comeback of some kind as we head toward the close right now. >> stick around, we're just getting starting on this big friday edition of the "closing bell." >>> coming up, in a fix, is the employment picture so break it may not matter who is in the oval...
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Sep 28, 2012
09/12
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would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually ratcheted up the best quarter we've seen in years. today we had a huge explosive short move at the end of the day, maria, that really, really punctua
would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at...
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Feb 15, 2012
02/12
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good with getting rid of the loopholes and expenditures, steve forbes. i just want the rate to come down commensurately. >> this is like a jimmy carter tax reform when he proposed cutting it from 77 to 64 and getting rid of tax preferences, which have been a disguised tax increase. it should be across the board and propose something truly radical. in terms of accelerated depreciation, how about keeping instant expensing. >> now you're picking and choosing your loopholes again. you got to be ready to get ready of interest deductibility. >> if you company spends $100 million on a new factory, they shouldn't be able to write it off? that's not going to work in the world. >> that's what i was worried about. when push comes to shove, everybody likes their loopholes. >> if you want to get rid of ak celebrate raitted key preesh yagts and instant expensing and go along with 10%, i'll go -- >> i want a revenue neutral. >> revenue neutral in a -- not the crazy way the cbo does it, which assumes no effect on the economy. i don't like that. >> cbo is going to have t
good with getting rid of the loopholes and expenditures, steve forbes. i just want the rate to come down commensurately. >> this is like a jimmy carter tax reform when he proposed cutting it from 77 to 64 and getting rid of tax preferences, which have been a disguised tax increase. it should be across the board and propose something truly radical. in terms of accelerated depreciation, how about keeping instant expensing. >> now you're picking and choosing your loopholes again. you...
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Oct 3, 2012
10/12
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steve leisman and diana olick are all over the data points. steve, the latest jobs data, is it changing in any way the expectations for this friday's employment report? >> not a lot. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the 150,000, 155,000 range. in august it was revised down to 189,000. the non-farm payroll estimates. we won't know until friday if that is higher. here's the misses we've had over the past three months. it's been 63,000 heavy compared to the bls private sector report. you can see over the course of the year it's been a little bit on the high side making economists wary about upping their estimates. what has been a little bit on the up side is jobless claims. other data that helped buoy optimism, slightly higher than claims in last month's survey week. the ism jobs man
steve leisman and diana olick are all over the data points. steve, the latest jobs data, is it changing in any way the expectations for this friday's employment report? >> not a lot. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the...
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Sep 13, 2012
09/12
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. >> steve's got to run into the meeting. steve, we'll see you in just a bit. that's the big deal here so we'll let you go. thank you very much. rick santelli, can you square the question? again, i'm not trying to belabor it, but unless the fed is saying we're the reason things are going to be better, i'm trying to square this idea that fewer of them see a rate hike next year but they're upping their growth outlook or am i completely off base? >> no. matter of fact, compared to where i am, you're right on base. i don't think even in a good normal year the fed could be accurate in a prediction two or three years out, much less in the times we live in. i still don't understand why the stock market being up 172 is going to make anybody who doesn't pay taxed which we need to lower the deficit because they don't have a job. i don't know how that situation is going to change. take it a step farther. i see the option adjustment spread, the bond rate is probably going to be lower but there aren't enough people able to re-fi. we'll go
. >> steve's got to run into the meeting. steve, we'll see you in just a bit. that's the big deal here so we'll let you go. thank you very much. rick santelli, can you square the question? again, i'm not trying to belabor it, but unless the fed is saying we're the reason things are going to be better, i'm trying to square this idea that fewer of them see a rate hike next year but they're upping their growth outlook or am i completely off base? >> no. matter of fact, compared to...
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Nov 23, 2012
11/12
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steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the market is slowly coming off the lows. >> instead the last time the markets closed in positive territory on black friday was 2008. let's see if we can do it again. we have full team coverage of where it's shaping up to be a jolly holiday season. >> our luxury or discount retailers. >>> and walmart workers threatening to walk off the job. are these protests having a real impact, or was it a lot of noise? we'll speak to one worker just moments after he walked out the door. >>> more black friday shopping this at woodbury common up in new york state. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as eas
steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the market is slowly coming off the lows. >> instead the last time the markets closed in positive territory on black friday was 2008. let's see if we can do it again. we have full team coverage of where it's shaping up to be a jolly holiday season....
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Feb 9, 2012
02/12
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the fbi has released a dossier on the late apple co-founder steve jobs. those files were compiled for presidential appointment by president bush. they said he experimented with drugs while in college. they question his honesty saying jobs would twist the truth to achieve his goal. much of this is in the book that was recently published. not much enthusiasm from investors after greece's political leaders came to that agreement on austerity measures. the market showing once again low volume. the major indices modestly higher for the day. the dow up 5% on the year. nasdaq up 12% year-to-date. s&p 500 showing a gain of 7%. our next guest says the robust performance we've seen year-to-date, he said he has the strategy to protect your portfolio. good to have you on the program, gentlemen. thank you so much for joining us. >> thank you, maria. >> let's talk first about these gains year-to-date, ben. to what would you a tribute the moves in equities? is it justified? >> i think that it might have gotten a little too far ahead of itself. we'd a tribute it to less
the fbi has released a dossier on the late apple co-founder steve jobs. those files were compiled for presidential appointment by president bush. they said he experimented with drugs while in college. they question his honesty saying jobs would twist the truth to achieve his goal. much of this is in the book that was recently published. not much enthusiasm from investors after greece's political leaders came to that agreement on austerity measures. the market showing once again low volume. the...
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Dec 24, 2012
12/12
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even steve jobs used to eat there." and mona's sort of taken aback and bites her tongue and doesn't say, "steve jobs is your son." but she looks shocked, and he says, "yeah, he was a great tipper." >> and i was in that restaurant once or twice, and i remember meeting the owner, who was from syria, and it was most certainly him, and i shook his hand, and he shook my hand, and that's all. >> and jobs never spoke to him, never talked to him, never got in touch with him, never wanted to see him. [ticking] >> coming up, steve jobs delays cancer surgery. >> how could such a smart man do such a stupid thing? >> you know, i think that he kind of felt that if you ignore something, if you don't want something to exist, you can have magical thinking, and it had worked for him in the past. >> more steve jobs when 60 minutes on cnbc returns. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real ti
even steve jobs used to eat there." and mona's sort of taken aback and bites her tongue and doesn't say, "steve jobs is your son." but she looks shocked, and he says, "yeah, he was a great tipper." >> and i was in that restaurant once or twice, and i remember meeting the owner, who was from syria, and it was most certainly him, and i shook his hand, and he shook my hand, and that's all. >> and jobs never spoke to him, never talked to him, never got in touch...
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Mar 2, 2012
03/12
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maria, back to you. >> steve, thank you so much. we'll get to garry kasparov in a moment, of course, the global chess champion turned political activist. before we do, we have breaking news on citigroup. mandy drury with the story. >> thanks a lot for that, maria. the "wall street journal" is reporting that the citigroup chairman is not going to be standing for re-election on the citi board. he will give up the chairmanship. he's been on the board itself for 16 years. apparently citigroup is reportedly expected to name michael o'neill as the new chairman, maria. mr. parsons was the longtime former ceo of time warner. his departure is seen as a confidence in the remaining ceo vikram pundity. if you just want to take a look at the reaction in terms of after-hours share price, we're sitting at $34.07. citigroup has lost about 94% of its value since its all-time high which was back in 2006. so it's an incredible fall from grace in terms of shareholder value. >> it certainly has been. thank you so much, mandy. let's get more on sunday's
maria, back to you. >> steve, thank you so much. we'll get to garry kasparov in a moment, of course, the global chess champion turned political activist. before we do, we have breaking news on citigroup. mandy drury with the story. >> thanks a lot for that, maria. the "wall street journal" is reporting that the citigroup chairman is not going to be standing for re-election on the citi board. he will give up the chairmanship. he's been on the board itself for 16 years....
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Apr 25, 2012
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steve talked about a stalemate. i'd suggest the fed's hiberna hibernating at least for today with very little change and a very low pulse statement that suggests the possibility, but not the probability of additional qe. i think ultimately as we approach the june meeting, however, i think the economy and financial markets will reflect the need for more stimulus and that's not my or the fed's favorite scenario because it has negative as wells positive repercussions but i think its inevitability is in our stars and tea leaves i think as shakespeare might say within ourselves. >> do you agree. >> largely, yes. we think today they will announce no policy changes. they'll acknowledge in the statement that there's moderate growth that has slowed a bit recently. that inflation is subdued. they might also speak to some of the risks such as a recent slowing in the growth rate of the labor market and in europe but at the end of the day, we're trying to -- if the economy continues to moderate then the likelihood of quantitativ
steve talked about a stalemate. i'd suggest the fed's hiberna hibernating at least for today with very little change and a very low pulse statement that suggests the possibility, but not the probability of additional qe. i think ultimately as we approach the june meeting, however, i think the economy and financial markets will reflect the need for more stimulus and that's not my or the fed's favorite scenario because it has negative as wells positive repercussions but i think its inevitability...
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Mar 16, 2012
03/12
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however, i do agree with steve that consensus has certainly turned in the last several days. and futures would suggest a 2013 increase in fed funds at this point. >> diana, one of the things -- i know katie pointed out in one of her notes that the fed seems almost more focused on the housing market than it does on inflation. but rising interest rates -- i've missed my moment to refinance, i think, here with the 10-year at 2.30 right now. what does this say? what does this do to the housing market? >> well, i think you have to remember that this is really a by fur kated market. one-third of the market being disstressed properties, foreclosures, mostly largely being bought with cash. so without a mortgage. and the rest of the market is a lot of first-time home buyers. so rising rates could hit the home builders. as for refis, so many people have refinanced already that i don't think that's going to effect it that much. >> if, steve, the fed does move -- let me pose another way and pick up on the thought that katie and i'll get to bob in just a second. are rates moving up for th
however, i do agree with steve that consensus has certainly turned in the last several days. and futures would suggest a 2013 increase in fed funds at this point. >> diana, one of the things -- i know katie pointed out in one of her notes that the fed seems almost more focused on the housing market than it does on inflation. but rising interest rates -- i've missed my moment to refinance, i think, here with the 10-year at 2.30 right now. what does this say? what does this do to the...
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Feb 8, 2012
02/12
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we'll add steve liesman to this conversation. you wanted to talk about consumerer debt. you're sifting through the troika reports on greece. any thoughts or observations there as well? >> well, it just feels like we're back in that nether world. if there is a deal, isn't a deal, it's not really quite clear. i'm looking here, for example, at the minimum wage cuts, which i know has been on the table. i'm not sure quite in that proportion of 20%. there is some deal here with the ecb. but the extent to which they will or will not take a profit, i know the market wants to get excited about this, bill, but i would just urge caution here, reading these headlines. go ahead? >> i was going to say, the market really isn't that exciting right now. we turned slightly positive. you would think if there was definitive news here, we would be spring loaded for that. >> i think the market's taking it right then. i know bob was saying the market was excited about it, brian, so i'm taking it off the argument with pisani, not me. >> what impact could this have, assuming this is the final de
we'll add steve liesman to this conversation. you wanted to talk about consumerer debt. you're sifting through the troika reports on greece. any thoughts or observations there as well? >> well, it just feels like we're back in that nether world. if there is a deal, isn't a deal, it's not really quite clear. i'm looking here, for example, at the minimum wage cuts, which i know has been on the table. i'm not sure quite in that proportion of 20%. there is some deal here with the ecb. but the...
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Mar 13, 2012
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so they're ready for the april meeting. >> steve, do you agree with that? >> you know, i don't think the fed is on the verge of additional policy accommodation, if that's what vince is saying. i think that the way the numbers have been running -- i don't think the fed wants to -- when it comes to now being really a judgment call, it's not apparent. i think the fed is not going to kind of give its enemies ammunition here. i don't think it's going to see it as being essential for the economy. i think it's going to decide not to do it. i know that's vince's call. enormous respect for vince. but i don't think it's on the verge of anything now. if anything, vince, it might continue operation twist. but an out-and-out balance sheet expansion is -- >> but that's our call. if they act in april, it will be to extend operation twist to be seen as fostering economic expansion. but then they've got may and june. >> kelly, you want to get in here and see which side of the fence you're on? >> i'm curious. vince, i think your outlook is predicated. as of last week, you gu
so they're ready for the april meeting. >> steve, do you agree with that? >> you know, i don't think the fed is on the verge of additional policy accommodation, if that's what vince is saying. i think that the way the numbers have been running -- i don't think the fed wants to -- when it comes to now being really a judgment call, it's not apparent. i think the fed is not going to kind of give its enemies ammunition here. i don't think it's going to see it as being essential for the...
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Oct 31, 2012
10/12
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. >>> steve leisman here with me now. steve, as we speak, the president is in a helicopter touring some of the most heavily damaged areas in the state of new jersey. i've been told that what happens here is a wealth destruction but not an economic output destruction. is it possible that this is going to, on net, add to growth? >> it's a nice thought. if you look at the rubble. unfortunately, while we're billing can be an offset from the losses from natural disasters, general economic thinking that you rarely end up on the positive side when all the costs are counted. estimates for the total cost of sandy ranging right now, as we count the rubble, as high as $50 billion. and as low as $30 billion. that would make it one of the uctive storms in our history. the unique aspect of the storm defies comparison. look at this chart our friends over at weather channel made for showing the whole enormity of the different types of weather. it defies comparison. sandy whipped drenching rains across a wide waswath of the country includ
. >>> steve leisman here with me now. steve, as we speak, the president is in a helicopter touring some of the most heavily damaged areas in the state of new jersey. i've been told that what happens here is a wealth destruction but not an economic output destruction. is it possible that this is going to, on net, add to growth? >> it's a nice thought. if you look at the rubble. unfortunately, while we're billing can be an offset from the losses from natural disasters, general...
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Nov 16, 2012
11/12
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thank you, steve. is there be the tom in sight for america's most valuable company and amazon's valuation is steep and a key business doesn't make money but is there reasons to be bullish on that guy? we're watching the price of oil as tensions rise in the middle east and the fire engulfs a rig off the l la coast. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball pack
thank you, steve. is there be the tom in sight for america's most valuable company and amazon's valuation is steep and a key business doesn't make money but is there reasons to be bullish on that guy? we're watching the price of oil as tensions rise in the middle east and the fire engulfs a rig off the l la coast. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize...
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Oct 30, 2012
10/12
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john browet of retail is out but the biggest change in the shakeup is scott forstall, the man steve jobs tasked with assembling and leading the team that created iphone software, project purple, is out. this is so important because ios and its apps store are arguably the most important software platforms assembled in a generation, he was the guy in charge of it, what i and other news organization, forstall wouldn't sign up to apple's apology for the maps fiasco. forstall was a divisive figure inside apple any watch the one happened, the success of ios raised his profile enormously, his golden touch had limits, i ad, siri and maps fallen flat. here is my take, a defining moment for tim cook, a big deal. software engineering talent is the lifeblood of apple right now. and their world just got shaken up. it is going to fall to cook's new software, and others to make sure they don't miss a beat. the key moment to watch will be next summer's worldwide developer conference, we expect to see major new features in ios and icloud and the team's ability to build and deliver those in the next eight
john browet of retail is out but the biggest change in the shakeup is scott forstall, the man steve jobs tasked with assembling and leading the team that created iphone software, project purple, is out. this is so important because ios and its apps store are arguably the most important software platforms assembled in a generation, he was the guy in charge of it, what i and other news organization, forstall wouldn't sign up to apple's apology for the maps fiasco. forstall was a divisive figure...
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Feb 8, 2012
02/12
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steve, what did you make of what sam had to say? he's slamming the system. >> you know, i think he's got a point there. but the reason why the government came in was because the alternative was thousands of people essentially -- millions of people, losing their homes. and i think there's a place for government help here. it's proven though that all the government programs, brian, have not worked out all that well. in fact, the market has sort of been left to its own designs on its own. and seems to me capable of figuring it out on its own without the government involved. >> rick santelli, we've heard about fair share, do you think viewers writing myself, all the time saying i was smart about housing and feel like i'm not getting a benefit from the government because of the help they're providing? >> you know, once again, when it comes to fair, it's a relative term. what's fair in the eyes of the president may not be fair to the eyes of some in the electorate. how tall is tall? i'm tall if i'm in a land where nobody else is taller th
steve, what did you make of what sam had to say? he's slamming the system. >> you know, i think he's got a point there. but the reason why the government came in was because the alternative was thousands of people essentially -- millions of people, losing their homes. and i think there's a place for government help here. it's proven though that all the government programs, brian, have not worked out all that well. in fact, the market has sort of been left to its own designs on its own....